What is Wealth Mangement

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 True Measure Wealth Management is a wealth management firm in Omaha NE. The problem with calling ourselves a “wealth management” firm is that everyone in the industry uses the same titles interchangeably- financial services, financial advisor, wealth management, and investment planning to name a few. So let’s break it down and define the elements that collaboratively define Wealth Management.

Private Wealth Management

The best definition we could derive is “A type of financial services that combines personal investments, tax planning strategies, estate planning, and legal counsel. It is designed to provide a broad array of services within the confines of one office.”

In essence, wealth managers approach a financial household holistically, providing services and guidance on protection, diversification, and wealth throughout their clients lives. Wealth managers tend to know a lot about their clients as sometimes they require full disclosure before offering advice.

Serve the Client Well

Wealth managers connect emotionally with their clients. These financial planners aspire to understand their client’s goals and work together to achieve them. Often times this financial advisor acts as a coach, reminding their clients of their long term aspirations and keeping them focused on achieving them. Wealth managers tend to have fewer clients, therefore they have more time to service their clients, keeping up with most aspects of their lives.

Do Well by Doing Well by Their Clients

Because wealth managers’ success rides on how happy their clients are with their services, they are more dedicated to them and their families. They focus on the health and resilience of each unique individuals’ financial picture. Wealth managers also ensure that the right levels of protection are in place, meaning that their clients have the appropriate insurance policies to protect their family in the event something would happen.

As their clients move through life changes, a wealth manager begins to plan for the entire family. For example, planning their children’s education expenses or their first property purchase. Wealth managers will also guide their clients to retirement, looking at their financial picture and asking do they have enough savings and wealth to continue their desired lifestyle in retirement. After that, they begin moving into the last stage where people start looking at inheritance and succession panning.  

After many years of standing side by side with their clients they become almost family. Clients lean on their advisors for many reasons and often times look to them in times of grief. A wealth manager provides many services to their clients under one roof, making their experiences holistic, convenient, and enjoyable.

Wealth Management may be right for you if:

  • You’re a high net worth individual
  • You don’t know who to trust but don’t have time to deal with your finances
  • Your finances are more complex and you need guidance
  • You benefit from structure and goal setting
  • You would rather enjoy life, and entrust someone to do the heavy lifting

To learn more about Wealth Management, visit our website at truemeasure.com. To gain financial literacy and grow your knowledge with free content, subscribe to our newsletter!